Explanation:

You’ve been late on at least one account in the past, and the balances on the accounts that had late payments are high compared to the original loan amount or the credit limit on a revolving account. Late payments are a proven indicator of risk. When balances are close to the original loan amount or approach credit limits, risk is further increased because you don’t have much credit available should it be needed, creating a greater chance of becoming overextended. People with the best scores have no late payments and keep their balances low.

What you can do:

Paying bills on time every month is important to maintaining a good credit score. If you remain behind with any payments, bring them current as soon as possible, and then make future payments on time. Whenever possible, pay down balances on your accounts. Over time these actions will have a positive impact on your score.

A HIGHER LEVEL OF CONFIDENCE

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